April 15, 2011 15:15 ET

Sprint and Pfizer Declining, GE and UnionTown Energy (UTOG) Gaining in Today's Early Trading

American Energy Report's PM Update Features Sprint Nextel (S), General Electric (GE), Pfizer (PFE) and UnionTown Energy (UTOG).

LAS VEGAS, NEVADA--(Marketwire - April 15, 2011) -

Editor's Note: There are two photos associated with this press release.

Investment Updates: This afternoon's focus is on Sprint Nextel(S), General Electric(GE), Pfizer(PFE) and UnionTown Energy(UTOG).

Telcom News

Sprint Nextel Corp. (S) has debuted a new advertising campaign dubbed "All Together Now." The campaign promotes Sprint's unlimited data plans and builds on its existing "Now Network" positioning.

Utility News

General Electric Corp. (GE) is expected to show a humble gain next week in its first-quarter profit due in part to the slow recovery of its financial services arm from increased loan defaults brought on by the recession.

Pharma News

Pfizer Inc. (PFE) announced that its experimental rheumatoid arthritis drug has shown the ability to lower symptoms of the disease. The results of the study could aid Pfizer in grabbing a share of the $12 billion market from other drug makers.

Energy News

Brigham Exploration Company (BEXP) announced earlier this week that its Johnson 30-19 #1H Bakken well, which is located in Richland County, Montana, produced a Montana Bakken record early 24-hour peak flow back rate of approximately 2,962 barrels of oil equivalent.

UnionTown Energy (UTOG) has signed a non-binding letter of intent to acquire the 11,000-plus acre Teton River oil and gas property in northwest Montana. Drilling on the Teton River property will primarily target the Swift Sandstone oil field. Two nearby oil fields, the Bannatyne and Utopia, are currently producing from the Swift formation.

The new acquisition deal follows UnionTown's announcement a week ago that it had completed its previously reported acquisition of the New Miami oil and gas property in northwest Montana. Two days, earlier, the company closed its acquisition of the Musselshell property in central Montana.

Combined, the two acquisitions have an estimated recoverable oil reserve of 12.8 million barrels.

The Teton River property primarily targets the Swift Sandstone oil field. Two nearby oil fields, the Bannatyne and Utopia, are currently producing from the Swift formation.

UnionTown believes that Swift Sandstone displays better porosity, oil saturation, permeability and feet of pay than that evident in either of the nearby fields. Previous exploration wells drilled on the Teton River property have shown positive oil results.

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